Standard Chartered lowers Ethereum year-end target from $10,000 to $4,000

Standard Chartered (SC) has significantly lowered its year-end price target for Ethereum (ETH) from $10,000 to $4,000.
The SC recently released a report stating that "Ethereum must maintain 80% (blockchain platform) market share.
"Only maintaining market share can stop the structural decline in ETH prices," he said, explaining that the structural decline is currently continuing.
In particular, SC believes that the spread of Layer 2 blockchains has reduced the size of ETH's market capitalization.
In particular, the analysis found that Coinbase's Layer 2 blockchain, Base, caused the ETH market capitalization to decline by more than $50 billion.
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